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TriZetto Announces Erisco Facets Licensing Agreement
With IHC Health Plans
NEWPORT BEACH, CA – April 19, 2001 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) announced today that IHC Health Plans, Intermountain Health Care's (IHC's) health plan division serving nearly 1 million members in Utah, Southern Idaho and Western Wyoming, has signed an agreement to license Erisco Facets(R) managed care administration system.
Tony Bellomo, president of TriZetto's HealtheWare(TM) software unit, says that Facets will help IHC meet its business and healthcare objectives in the years to come.
"IHC Health Plans is the type of health plan customer we are very successful working with: growing, innovative and committed to quality, community-based healthcare," says Bellomo. "As IHC grows, Facets will be able to expand with them, keeping their administrative processes streamlined and helping them fulfill their mission of high quality, cost-effective healthcare."
With more than 2,500 affiliated physicians, 22 network hospitals and 100 other affiliated clinics and care centers spread over a wide service area, flexibility was a crucial requirement in selecting IHC's core administrative IT system.
"From urban hospitals to small rural clinics, from large employer groups to plans covering individuals, we serve a diverse range of facilities and customers," says Bob White, director of Information Services, IHC Health Plans. "What impressed us most about Facets was its ability to adapt to our rapidly changing business needs. We also like the depth and breadth of functionality that Facets brings together in an integrated package. Our expectation is that this will allow IHC Health Plans to provide a diverse set of services to our customers in a more automated way than we can provide today."
TriZetto's Erisco Facets is the industry's leading client/server system for payer managed-care administration. Erisco systems are used by more than 125 payer organizations, serving more than 70 million lives, including managed healthcare organizations, managed indemnity carriers, Blue Cross Blue Shield organizations, and third-party administrators.
About Intermountain Health Care
IHC is a charitable, community-owned, nonprofit healthcare organization based in Salt Lake City that serves the health needs of Utah, Wyoming, and Idaho residents. The IHC system includes health insurance plans, 22 hospitals, clinics, and affiliated physicians. Last year, in 133,000 cases, IHC hospitals and associated clinics provided more than $33 million in charitable assistance. A central part of IHC's mission is to provide quality medical care to persons with a medical need, regardless of ability to pay. IHC brings physicians, hospitals and health plans together to develop and implement "best practice" clinical care and service. Through its own health plans and those affiliate plans utilizing its delivery system network, IHC serves 1.0 million members.
About TriZetto
The TriZetto(R) Group, Inc., is an information technology and services company focused on the healthcare industry. The company hosts and licenses software and provides e-business platforms, serving approximately 600 customers with more than 90 million enrollees. TriZetto's application service provider (ASP) unit hosts a broad selection of applications from multiple vendors for a predictable monthly fee. All of TriZetto's ASP offerings are configured for use over the Internet. TriZetto's HealthWeb(R) technology allows all healthcare participants -- health plans, providers, employers and members -- to exchange information and conduct business over the Internet. HealtheWare(TM), the software engines unit, develops and licenses premium Erisco and RIMS applications for payers and benefits administrators. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200, www.trizetto.com.
This press release may contain forward-looking statements that involve risks and uncertainties. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements about future net revenues, profits, and financial results, the market for TriZetto's services, future service offerings, client and partner relationships, and TriZetto's operational capabilities. Actual results may differ materially from those stated in any forward-looking statements based on a number of factors including the effectiveness of TriZetto's implementation of its business plan, the market's acceptance of TriZetto's services, risks associated with management of growth, reliance on third parties to supply key components of TriZetto's services, attraction and retention of employees, variability of quarterly operating results, competitive factors, risks associated with acquisitions, changes in demand for third party products or solutions, which form the basis of TtiZetto's service offerings, and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACT:
TriZetto Media Relations
Jodi Amendola
480-657-9966, ext. 25
jamendola@cpronline.com
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